Even though the cost of a college education is rising rapidly, parents have some reasons for cautious optimism, The National Association of College and University Business Officers' (NACUBO) annual report shows that more private colleges are offering an increasing amount of merit based and need based financial aid awards. Click here to access the study. This report demonstrates the importance of keeping an open mind and applying to private colleges that offer generous merit scholarships and need based financial aid programs to attract desirable students.